My friends vehicle issue.
Sep 2006 - Loan was approved by financier for two second hand vehicles.
Feb 2007 - vehicles were surrendered.
May 2007 - Financier people brought some people and made deal that we will not ask you anything as other person has taken the responsibility of paying the whole amount but they didnt gave any written statement which he agreed.
June 2007 - Hypothecation was completely cancelled in RTO records for both the vehicles. However, i got certified copies of cancellation of hypothecation from RTO office for both vehicles.
Feb 2014- financier put lok adalat for recovery of some amount.
Could you please let me know whether financier has got any right to put case against my friend.